Preparing for the Summertime Exodus
Coping with Mass Vacancies

If it's like a ghost town in your building and summer hasn’t hit yet—where is everybody?

Maybe they’re on a winter hiatus and are inhabiting their second home in Florida—and that possibly means a season-long absence from their co-op or condo. Lucky for them, but how does it affect the rest of the building community when a large portion of the resident snowbirds have gone AWOL? What special precautions should the board and manager take to keep the building running safely and smoothly through periods of mass vacancy?

Lonely Leaks

According to Michael Berenson, president of Manhattan-based management firm AKAM Associates, “When an owner is away from their co-op or condo apartment for any period of time, the major concern is making sure that nothing happens in the apartment to jeopardize the life or safety of others in the building. Most significant are temperature-related concerns, because pipes can freeze and burst in apartments where the temperature is not regulated.”

Managing agent Arnie Lauri, who is with Midboro Management in Manhattan, shares Berenson's concern: “If somebody isn’t in an apartment for a month or two months and there is a leak,” says Lauri, “you may not see the damage for a while.” Once the water penetrates the apartment’s flooring, he explains, “it finds its way. It can skip floors, and stay in certain areas.”

Lauri, who previously worked for Argo Real Estate, recalls a leak in a condominium apartment a couple of years ago. The owner was away for a month and the water supply line for their toilet cracked. While the apartment of origin was on the 14th floor, the building staff weren’t aware of the leak until it hit the lobby. “It bypassed 12, and did damage on some floors and not others,” says Lauri. “The most damage was to the first residential floor—the last area where there was a concrete slab.”

Discover your legal obligations and brainstorm ways to deal with these divisive hot-ticket issues before you are required to present a Smoking Policy in August. For information, visit www.bigapplecai.org.

NYC has the biggest metro system in the country and that has been a great contributor to the city's growth and power. However, the Big Apple is now faced with aging infrastructure, some dating back to the 1930s. With NYC's population increasing at record levels each year, overcrowding is straining the decaying subway system. As always, there will be plenty of opportunities to network with industry leaders and learn from top executives. For information, visit www.bisnow.com.

CAI Webinar: Eyes in the Sky: Using Drones in Your Community Association

Over the last few years drones have become more prevalent in community associations. For engineers—and now association boards, managers, and management companies—drones have become their “eyes in the sky.” From the safety of the ground, licensed pilots carefully maneuver drones to inspect roofs, home and building facades, construction sites, and anything else that can be seen from above within your community. Not only do drones provide pictures and videos, they also can be equipped with special thermal imaging cameras to help identify hidden moisture and heat loss. Learn all about this emerging technology and how to use it for your community! For information, visit www.caionline.org.

Benchmarking is coming to buildings from 25,000-50,000 sq. feet. Find out your options, and use this opportunity to cut your fuel, electricity and water expenses. For information, visit www.bigapplecai.org.

In this 2-session class, attorney Marc Luxemburg and property manager Gregory Carlson examine all aspects of operating cooperatives. The class is limited to board members of housing cooperatives. It is jointly sponsored by CNYC, the Federation of New York Housing Cooperatives and Condominiums and the Association of Riverdale Cooperatives, each of whose members attend at the member rate. Advanced registration is required. A light supper is served in the break. The cost is $125 per person if your cooperative is a member of CNYC; ARC or FNYHC, $200 for non-members. Pre- reserve, by phone (212) 496- 7400 or e-mail to workshops@CNYC.coop. Payment sent to CNYC at 250 West 57 Street, Suite 730, NYC 10107 confirms your registration. There is a surcharge of $15 for late payment.

In this 2-session class, attorney Marc Luxemburg and property manager Gregory Carlson examine all aspects of operating cooperatives. The class is limited to board members of housing cooperatives. It is jointly sponsored by CNYC, the Federation of New York Housing Cooperatives and Condominiums and the Association of Riverdale Cooperatives, each of whose members attend at the member rate. Advanced registration is required. A light supper is served in the break. The cost is $125 per person if your cooperative is a member of CNYC; ARC or FNYHC, $200 for non-members. Pre- reserve, by phone (212) 496- 7400 or e-mail to workshops@CNYC.coop. Payment sent to CNYC at 250 West 57 Street, Suite 730, NYC 10107 confirms your registration. There is a surcharge of $15 for late payment.

Improving cash flow while going green has never been easier! Discover the solutions and benefits of improving your existing building systems by utilizing the appropriate solutions to update the water and mechanical systems in your commercial or multi-family building. Learn how going green helps you gain the benefits of more efficient equipment, lower utility and maintenance costs, increased property values, and improved community reputation—all while helping protect the environment.​ For information, visit www.caionline.org.

Learn about the latest building services from more than 300 exhibitors, Attend educational seminars, get free advice from industry experts, and network with your peers at this leading real estate trade show in New York. For information and to register, visit www.coopexpo.com.

The new resident at a West Village building teeming with celebrities is a Monaco-born billionaire.
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2/16/2018
Opinion: Asbestos scandal shows New Yorkers are at risk - Crain's New York Business

2/16/2018
Opinion: Asbestos scandal shows New Yorkers are at risk - Crain's New York Business

Just days ago, the New York City Department of Investigation announced the arrest of 17 people for falsifying inspection documents for asbestos for 40 properties in Manhattan and on Staten Island.
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2/16/2018
It's still possible to buy a three-bedroom apartment in Manhattan for under $1 million - Brick Underground

2/16/2018
It's still possible to buy a three-bedroom apartment in Manhattan for under $1 million - Brick Underground

The median apartment sales price in Manhattan is over a million dollars, and the bulk of the available apartments out there are studios and one and two bedrooms.
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Kimberly Lewis arrived in New York in 2004 as a student at the Pratt Institute. Ms. Lewis, who is from New Hampshire, lived in the dorms and after graduation settled into a rental in a mid-rise brick co-op building in Kensington, Brooklyn.
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2/15/2018
Waldorf-Astoria is not for sale - The Real Deal

2/15/2018
Waldorf-Astoria is not for sale - The Real Deal

That’s according to the CEO of Hilton Worldwide Holdings, which manages the iconic New York City hotel on behalf of Anbang Insurance Group.
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2/15/2018
The New York City Apartment of Late Filmmaker Jonathan Demme Sold for $2.4 Million - Variety

2/15/2018
The New York City Apartment of Late Filmmaker Jonathan Demme Sold for $2.4 Million - Variety

The longtime New York City apartment of late and lauded filmmaker Jonathan Demme was sold by his widow, Joanne Howard, for $2.4 million.
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2/15/2018
NYC’s most expensive townhouse sets new record - NY Post

2/15/2018
NYC’s most expensive townhouse sets new record - NY Post

Ukrainian-born, Moscow-raised billionaire Len Blavatnik has paid a record $90 million for an Upper East Side mansion, sources told the Post.
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The condo conversion of a former Clinton Hill church and adjoining Parish Hall and school building received the Landmarks Preservation Commission’s approval on Tuesday.
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2/14/2018
Opinion: If the mayor didn't raise property taxes, who did? - Crain's New York Business

2/14/2018
Opinion: If the mayor didn't raise property taxes, who did? - Crain's New York Business

During a recent radio appearance, Mayor Bill de Blasio said—not for the first time—that he has not raised property taxes. But the property tax levy, which is the total amount the city aims to collect and which the city alone determines, has jumped to $27.7 billion from $20.1 billion when he took office four years ago.
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2/13/2018
Nexus plans condo building at site of gas explosion in East Village - Curbed

2/13/2018
Nexus plans condo building at site of gas explosion in East Village - Curbed

Nearly three years after an explosion leveled three buildings on Second Avenue and killed two people, Nexus Development Group has filed plans for a seven-story condo project on its site.
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2/13/2018
The Go-for-Broke Renovation - NY Times

2/13/2018
The Go-for-Broke Renovation - NY Times

In any renovation, there is the dream and then there is the reality — and the two are often worlds apart. Such was the case when Josh Lapidus and Tara Consi bought a three-story brick townhouse in Boerum Hill, Brooklyn, built in the 1890s, with plans to add a fourth floor for a new master suite.
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A federal judge awarded 21 artists a whopping $6.7 million Monday for a developer’s decision to destroy revered works at the famed 5 Pointz art mecca in Queens.
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2/12/2018
Luxury co-ops see upside as market softens - The Real Deal

2/12/2018
Luxury co-ops see upside as market softens - The Real Deal

Is there an upside to a softer luxury market? For co-ops there is.
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2/12/2018
Two more sky-high 432 Park apartments are in contract - Curbed

2/12/2018
Two more sky-high 432 Park apartments are in contract - Curbed

A 432 Park Avenue condo that was one of the priciest homes sold in 2016 appears to have sold once again—and it could become part yet another pricey combo pad at the supertall skyscraper.
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2/12/2018
The Yorkie’s Dominance: We Analyzed Every Dog Registration in New York - NY Times

2/12/2018
The Yorkie’s Dominance: We Analyzed Every Dog Registration in New York - NY Times

Consider the poodle: the fluffy stalwart of the Upper East Side, the pooch par excellence of fancy white-glove co-ops. Lately, it’s been roughing it downtown.
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2/12/2018
80-10-10 Loan: When Two Mortgages Can Save You Money - Nerdwallet

2/12/2018
80-10-10 Loan: When Two Mortgages Can Save You Money - Nerdwallet

An 80-10-10 loan lets you buy a home using two mortgages. People get 80-10-10 mortgages mainly to avoid paying private mortgage insurance, sidestep the strict lending requirements of jumbo loans, or to buy and sell a home at the same time.
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Nearly two years after it was announced that Rivington House, a onetime nursing home for HIV and AIDS patients on the Lower East Side, would go condo, its owners are taking steps to make that conversion a reality
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Cooperator.com is an online edition of The New York Cooperator newspaper. The publication serves the co-op and condo community with thousands of free articles on management, finance, maintenance and more...